The COVID-19 pandemic has accelerated digital transformation initiatives by financial institutions and retailers, bringing the need for a robust digital ecosystem to the forefront. In a study we recently conducted with over 500 banking and retail executives, we have seen that though many realize a digital transformation is essential, there is still some confusion as […]
The Shift to Digital Ecosystems Read More »
Commercial banks operate in a buyer’s market. Since products and services of commercial banks are highly homogenous, banks find themselves trapped in a semi-perfect competition market, where they might be forced to play the price war, leading to dwindling profit margins. All banks hope to break free from this trap through differentiation and in offering
Using Behavioral Theory to Improve Bank Customer Experience Read More »
As disruption from the pandemic rises and falls in waves around the globe, retail brands are pivoting their business to try and make up for related sales losses. Many brands were in good shape to manage this with robust digital and omnichannel ecosystems already in place. Many luxury brands, however, were not as well prepared.
Why Your Sales Staff Need to Be Online Read More »
It has been a rollercoaster couple of weeks for Walmart, who have gone from losing out on a joint bid with Microsoft to take over TikTok’s operations in the United States to now partnering with Oracle and claiming a 7.5 percent stake in the Chinese social media platform. While it may seem bizarre for Walmart
What Walmart’s TikTok Bid Means for Retail Read More »
Today, we’re talking about cash. Is it going to go away completely? Is it unhygienic? Should retailers still allow cash payments, or is it okay to push consumers towards cards and digital-only? Today, our President Jean-Pierre Lacroix is talking to David Fagleman, Director at Enryo, a consultancy firm in the UK that helps support financial services in
Will COVID-19 Be The Demise of Cash? Read More »
To most, shopping means paying a visit to your favorite store or mall to give yourself a feel-good experience that results in instant gratification. You leave the store feeling satisfied and well taken care of. Often, retail associates are there to offer assistance every step of the way, and, most importantly, give a sense of
Online Personalization Strategies for Fashion Retailers Read More »
Over recent years, most financial institutions have embraced mobile apps as a way to provide better service and convenience for their customers. In 2019, over 75 percent of Americans said that they used their mobile device to check their bank account, and as COVID-19 has forced branches to temporarily close, the number is even higher for 2020. However, simply
Super Apps and the Future of Banking Read More »
Brainstorming is a practice that most businesses need to employ from time to time, but it’s not as simple as just getting a bunch of people together with a whiteboard and some sticky notes. It’s a real skill. It requires a lot of preparation, guidance, structure and a plan. You need to be able to
Tips for Running a Successful Brainstorm Session Read More »
What does the store of the future look like? The COVID-19 pandemic has disrupted the entire world, and retailers are no exception. While countless well known brands have closed their doors for good, others have adapted with new and innovative ways of doing business. An accelerated move to online shopping, the ability to buy online and pick up in
Think: Inspiring the Future of Retail Read More »
For sports teams, like those which fans can bet on by learning details such as Coral Opening Times, the brand is everything, it’s massive. Fan behavior in which individuals feel their own self-identity is intertwined with a team, even to the extent that the team’s performance is felt on a deeply personal level, has been
How Sports Teams Create a Sense of Belonging Read More »
COVID-19 has significantly impacted almost all major industries, including foodservice, banking, retail and CPG by slowing down some aspects of day to day operations while accelerating others; for example technology adoption. These disruptions have also affected consumer perceptions about the future and therefore are changing their shopping preferences. Our recent studies clearly identified that consumers are
The Two Customer Personas of COVID-19 Read More »
We all know COVID has changed the game for many retail categories. Some have been obvious winners and others are feeling extremely strained. For the fashion industry, some are saying the pandemic may be a day of reckoning and there are many news about fashion now a days including information about the famous Paul Smith’s
What COVID-19 Means for the Fashion Industry Read More »
https://www.sld.com/wp-content/uploads/2020/07/CoxNoLogoF.mp4 MAKE YOURSELF AT HOME Cox Communications wanted to welcome customers into a comfortable store experience that put interaction and learning first, in a fluid, relaxed environment. CLIENT Cox Communications PROJECT Store Re-Design 2.0 RELATED SERVICE Brand Strategy Retail Design THINK In 2010 SLD worked with Cox Communications to create a retail store experience. We
Cox Communications Read More »
Your brand’s reputation does a great deal of heavy lifting: it draws in and retains loyal consumers while paving a path to long-term success. Unfortunately, brand reputation is also the most fragile asset your brand owns. As Warren Buffet put it, “it takes 20 years to build a reputation and five minutes to ruin it.”
How to Overcome Negative Brand Perceptions Read More »
The perks of operating your own independent business are often outweighed by the enormous burdens that come along with it. You become a de facto marketer, administrator, HR specialist. You work incredibly long hours and no matter what category you’re in, you’re facing increasing competition, both for clients and talent from larger organizations. For the Canadian
Change Management and Creating a Unified Brand Read More »
The retail industry is one that has been significantly impacted by technology with the growth of online-only retail platforms, the rising cost of labor and the growth of alternative payment platforms such as mobile wallets. Ironically, in spite of this disruption, our retail consumer study conducted in May clearly identifies that retail stores remain a
COVID-19: Retail’s New Reality Read More »
To help retailers better understand how to navigate through COVID-19 and its eventual aftermath, SLD has conducted consumer and industry studies to determine how the needs and behaviors of shoppers have been impacted by the current pandemic. Watch as Jean-Pierre Lacroix, President of SLD, and Lance Itkoff, President and CEO of Grafton Apparel (parent company of Tip
COVID-19: How Retailer’s Can Remain Relevant Read More »
On Thursday, June 18, SLD’s Jean-Pierre Lacroix will be joining Future Branches and Time Trade for an exclusive webinar on “Retail Banking’s New Reality & the Future of the Branch.” In this webinar the likely repercussions of COVID-19 for retail branch banking will be discussed, as will recommendations on what banks and credit unions can do
Retail Banking’s New Reality & the Future of the Branch Read More »
While COVID-19 has been the primary concern for brands around the world over the past few months, the recent killing of George Floyd and subsequent protests in both America and abroad have changed the focus for many brands. Over the weekend it became common to see companies voice their support for racial equality and the
How Retailers Can Help Reduce Consumer Anxiety Read More »
Amidst COVID-19, many retail industry experts’ response to the pandemic has been to question the future relevance of the bricks and mortar retail channel. They argue the pandemic has accelerated the current damage created by trade wars, the consumer shift to online retailers and the fact that North America is over stored, leading to the
Strategies For Retail Brands During and After COVID-19 Read More »
